Sofi Stock Is Failing to Break $20 This Year, but You Shouldn’t Give Up Yet

• SOFI
• COIN

2026 hasn’t been pleasant for SoFi (SOFI) investors, and the stock is down around 27% for the year. After peaking above $30 last year, it hasn’t crossed $20 for the past several months. While there have been intermittent rallies and SOFI stock is up almost 14% in a month, it has somehow developed cold feet whenever it gets closer to $20, including amid the recent upswing.

The recent uptrend in SOFI seems driven by the optimism over cryptocurrencies. Notably, SoFi relaunched its crypto trading business late last year, and the timing couldn’t have been worse as digital assets crashed subsequently, pulling down stocks across the cryptocurrency ecosystem. However, digital assets have seen a rebound after U.S. President Donald Trump recently pushed Congress to pass the Digital Asset Market Clarity (CLARITY) Act.

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Speaking at the White House event, which was attended by the top executives of Coinbase (COIN), Kraken, and Robinhood (HOOD), among others, Trump said, “Now we need ​Congress to take the next step by passing the Clarity Act — fair version of the Clarity Act.”

While SoFi is not a play on cryptocurrencies in a strict sense, as say COIN or HOOD, it has tended to move in tandem with Bitcoin (BTCUSD) for the last few months.

SOFI Stock Forecast

Earlier this month, SoFi scored a new “Buy” rating after Piper Sandler analyst Patrick Moley initiated the stock with an “Overweight” rating and a $22 target price. Overall, SoFi has a consensus rating of “Hold” from the 26 analysts polled by Barchart, and its mean target price of $20.11 is just about 6% higher than current prices. Its Street-high target price is $30

Several brokerages have lowered SOFI’s target price this year, particularly after earnings releases. The stock has tumbled after all three confessionals this year despite beating on earnings. That said, analyst target prices haven’t generally been a good indicator for SoFi, and it outperformed the markets in each of the last three years even as Wall Street firms mostly looked the other way.

Source: finance.yahoo.com